Every time you drive your vehicles, you are exposed to liability claims for personal injury or property damage due to an accident.
Additionally, there is always the chance that one of your vehicles will be stolen, vandalized, or damaged. In any of these situations, your potential financial loss could be great. To guard against such risks, you need auto insurance.
Minimum coverage requirements for auto insurance are determined by local law and vary from state to state. It's likely that you will be required to purchase some level of both bodily injury liability and property damage liability coverages. However, an automobile loan lender may require more.
Learn more about insurance related to your vehicles: